Categories Earnings, Energy

Earnings Summary: Highlights of Phillips 66’s Q4 2023 results

Diversified energy company Phillips 66 (NYSE: PSX) on Wednesday announced operating results for the fourth quarter of 2023, reporting a decline in adjusted earnings.

  • Fourth-quarter profit came in at $1.3 billion or $2.86 per share, vs. $1.90 billion or $3.97 per share in Q4 2022
  • Adjusted earnings decreased to $3.09 per share in Q4 from $4.00 per share in the prior-year quarter
  • Phillips 66 ended the quarter with an impressive operating cash flow of $2.2 billion
  • During the three months, the company returned $1.6 billion to shareholders through dividends and share repurchases
  • Midstream pre-tax income was $756 million in the December quarter; Chemicals pre-tax income, on an adjusted basis, came in at $106 million
  • The Refining segment registered a pre-tax income of $814 million in Q4; Marketing and Specialties pre-tax income was $432 million

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